Announcements

News from the Financial Aid Office

  • 21 December 2022

 

  • The LAST DAY FOR FALL LOAN INCREASE REQUESTS is December 19th at 9am. This will enable us to process the increase prior to the holiday break. Increases can still be requested after that date provided that the student making the request is continuing enrollment into the spring. However, requests made after December 19th at 9am may not be processed by our office until after we return from the break in January.
  • OUR OFFICE WILL CLOSE on December 22nd at 2pm for the holiday and re-open on January 3, 2023.
  • SPRING SCHOLARSHIPS started to disburse to students’ Tulane accounts on December 1, 2022 for students who are enrolled in at least ten credit hours for spring. (Part-time LLM credit hour requirement may vary). For students who are not yet enrolled for spring, scholarships will disburse once enrollment shows at least ten credit hours.
  • SPRING LOANS will disburse to students’ Tulane accounts on January 9, 2023 for students who are enrolled at least half-time (five credit hours), their fall grades are in, Satisfactory Academic Progress is being met (https://financialaid.tulane.edu/resources/eligibility/sap ), and any other requirements are completed. Most aid is based on students being enrolled in at least ten credit hours. If a student’s enrollment plans are different than what the aid is based on, the aid will be adjusted upon notification from the student.
  • STUDENTS BORROWING SPRING LOAN FUNDS to pay for living expenses can request a refund via Gibson Online on or after January 9, 2023. Refunds will credit to bank accounts during the week of January 9, 2023 (3-5 business days after disbursement and refund request is in place). Here are the instructions for requesting a refund, https://studentaccounts.tulane.edu/content/refund-disbursement
  • INTERSESSION will take place January 9, 2023 through January 13, 2023 and tuition charges will be added to the spring bill. Financial Aid for the cost of it can be added to the Cost of Attendance and federal loans increased if needed. The cost of it will be $300. Email our office to request a loan increase.
  • STUDENTS SEEKING FEDERAL AID for either Summer 2023, and/or Fall 2023/Spring 2024, should complete the 2023-2024 FAFSA which became available 10/1/2022. (www.studentaid.gov).
  • STUDENTS WHO ARE APPLYING FOR THE BAR AND/OR CHARACTER AND FITNESS TEST can submit proof of payment (receipts) for those items to our office so that federal loans can be increased if needed. They can also request that the origination fees associated with disbursed federal loans be added to their Cost of Attendance and loans increased for those as well. Deadline will be mid-April.
  • GRADUATING AND HAVE FEDERAL STUDENT LOANS? Mandatory Financial Aid Exit Sessions will take place during the week of March 6-10, 2023. Attendance at one of these sessions is mandatory for graduation. Details will be sent closer to that time.
  • HEALTH INSURANCE questions can be directed to Campus Health atRead more

The 2023-2024 FAFSA (Free Application for Federal Student Aid) -- Now Available

Do you need federal loans for summer 2023, fall 2023 and/or spring 2024?

  • 4 October 2022

President Biden announced the following three-part plan to address student loan debt

May provide federal student loan borrowers with debt relief

  • 31 August 2022

 

  • Final extension of student loan repayment/interest pause as part of The CARES Act.
    • Repayment and interest accrual will resume on JANUARY 1, 2023.
  • Targets debt relief to low- and middle-income borrowers.
    • Up to $10,000 in debt cancellation for federal loans first disbursed prior to 7/1/22 ($20,000 if you were a Pell Grant recipient as an undergraduate) if AGI was less than $125,000 in 2020/2021 ($250,000 if joint tax return) – may need to apply for benefit – stay tuned for more information
  • Creates a new, more affordable Income-Driven Repayment (IDR) plan.
    • Payments will be based on 5% of discretionary income for UG loans; 10% of discretionary income on graduate/professional loans (proportionate if you have combination of UG and Grad loans).
    • Increases poverty guideline threshold from 150% to 225% when calculating “discretionary income.”
    • Forgiveness will be reduced from 20 years to 10 years if loan balance is $12,000 or less.
    • Monthly accrued interest that is not paid by the IDR payment will be paid by ED)

 

Fall 2022 Aid - Message from Financial Aid

  • 5 July 2022
  • -Students seeking federal loans should now log into Gibson Online to make sure Terms and Conditions have been accepted, loans have been accepted, and all requirements for federal student aid have been completed. If not, those steps should be completed as soon as possible. https://gibson.tulane.edu/ . Instructions for new students can be found on the Admission Student Portal, or, for all students, on the Law School Intranet, in the Financial Aid section under DOCS (right side of page).
  • -First bills go out July 15th and are due August 14th. Students not enrolled on July 15th will receive the first bill on August 15th.
  • -Tulane Law School Scholarships disburse to students’ Tulane accounts on July 8th provided the student is enrolled in at least ten credit hours (part-time LLM credit hours required will vary).
  • -Federal student loans disburse to students’ accounts on August 15th provided all requirements are met and student is enrolled at least half-time (five credit hours). If all requirements are met by August 14th, Accounts Receivable will be able to see that aid will be applied to students’ accounts when the disbursement date arrives.
  • -Interest rates on federal loans are set at 0% until at least September 30, 2022 due to COVID-19, but are re-set each year on July 1. New interest rates for the coming school year are:
    • Federal Direct Unsubsidized Loan 6.54%
    • Federal Direct Graduate Plus Loan 7.54%
  • -Origination fees on federal direct loans are:
    • Federal Direct Unsubsidized Loan 1.057%
    • Federal Direct Graduate Plus Loan 4.228%
  • -Seat deposits will be applied to students’ accounts before the bill is due. However, locker charges may be applied after the bill is paid. Keep an eye on your student account for any charges that may be applied after the bill is sent out and/or paid. For example, if books are charged at the bookstore, those charges may be applied to student accounts until after bills are received.
  • -Students taking out loans for living expenses should be sure to be set up on Direct Deposit and Request a Refund when aid disburses. Instructions are here: https://studentaccounts.tulane.edu/content/refund-disbursement
  • -New students taking out federal loans should complete the Release of Title IV Funds form and return it to Accounts Receivable if they have not yet done so. It is found here: https://studentaccounts.tulane.edu/sites/g/files/rdw806/f/Title_IV_Release_Form_082216.pdf
  • -For questions about Tulane health insurance, contact Campus Health at campushealth@tulane.edu&

Summer 2022 Addendum (Application for Aid) Now Available!

  • 16 March 2022

The Summer 2022 Addendum (Application for Aid) is now available and can be found in the Financial Aid Section under DOCS. Details are on the addendum. Contact Law Financial Aid if you have questions.

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